Oarsman Capital Inc. Decreases Holdings in Intel Co. (NASDAQ:INTC)

Oarsman Capital Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,165 shares of the chip maker’s stock after selling 292 shares during the period. Oarsman Capital Inc.’s holdings in Intel were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its position in shares of Intel by 30.1% during the second quarter. Illinois Municipal Retirement Fund now owns 378,413 shares of the chip maker’s stock worth $12,654,000 after purchasing an additional 87,626 shares in the last quarter. Psagot Value Holdings Ltd. Israel increased its position in shares of Intel by 43.7% during the first quarter. Psagot Value Holdings Ltd. Israel now owns 4,456 shares of the chip maker’s stock worth $142,000 after purchasing an additional 1,356 shares in the last quarter. Mechanics Financial Corp increased its position in shares of Intel by 13.5% during the second quarter. Mechanics Financial Corp now owns 8,682 shares of the chip maker’s stock worth $290,000 after purchasing an additional 1,032 shares in the last quarter. Birchcreek Wealth Management LLC increased its position in shares of Intel by 5.4% during the second quarter. Birchcreek Wealth Management LLC now owns 29,512 shares of the chip maker’s stock worth $987,000 after purchasing an additional 1,525 shares in the last quarter. Finally, MV Capital Management Inc. increased its position in Intel by 7.0% in the 2nd quarter. MV Capital Management Inc. now owns 7,326 shares of the chip maker’s stock valued at $245,000 after acquiring an additional 479 shares during the period. 60.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 6,775 shares of Intel stock in a transaction on Wednesday, November 1st. The shares were bought at an average price of $36.80 per share, with a total value of $249,320.00. Following the purchase, the chief executive officer now directly owns 25,475 shares in the company, valued at approximately $937,480. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com assumed coverage on Intel in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Wolfe Research boosted their price target on Intel from $27.00 to $31.00 and gave the company an “underperform” rating in a research report on Friday, July 28th. HSBC upgraded Intel from a “reduce” rating to a “hold” rating and boosted their price target for the company from $27.00 to $33.00 in a research report on Friday, October 27th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Friday, October 27th. Finally, Barclays boosted their price target on Intel from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.53.

Intel Price Performance

INTC stock traded up $0.46 on Friday, reaching $43.81. The company had a trading volume of 49,749,721 shares, compared to its average volume of 42,165,434. Intel Co. has a 1 year low of $24.73 and a 1 year high of $43.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.53. The company’s fifty day moving average is $36.71 and its 200 day moving average is $34.31. The company has a market cap of $184.70 billion, a P/E ratio of -109.53, a PEG ratio of 15.13 and a beta of 0.88.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 26th. The chip maker reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.20. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $13.57 billion. During the same quarter in the prior year, the company earned $0.59 EPS. Intel’s revenue was down 7.2% on a year-over-year basis. On average, research analysts forecast that Intel Co. will post 0.19 earnings per share for the current year.

Intel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, November 6th. Intel’s payout ratio is currently -125.00%.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.